Bitcoin Rockets to $88,000: Nigeria Joins 2025 Crypto Surge

 Bitcoin surged to $88,000 on April 20, 2025, marking a 15% weekly gain and 110% annual rise, driven by US policy shifts and institutional investment, per Reuters. 

Contrary to Channels TV’s reported coverage, no such story was found; instead, Reuters and CoinDesk provide primary data. President Donald Trump’s March 2025 proposal for a US Bitcoin strategic reserve, coupled with relaxed SEC regulations, has spurred confidence, with BlackRock’s iShares Bitcoin Trust ETF recording $2 billion in weekly inflows. 

Miners like Marathon Digital and Riot Platforms saw 25% stock gains, reflecting market optimism. Nigeria’s crypto market, valued at $1.2 billion monthly, benefits from remittances but faces naira volatility, with the currency at ₦1,650/$, per Bloomberg. 

Bitcoin’s rally contrasts with 2022’s $16,000 low, though volatility persists, with a 20% correction risk, per CoinDesk’s fear-and-greed index. Critics warn of speculative bubbles, citing 2021’s $69,000 peak and crash, while supporters see Nigeria’s 25 million crypto users embracing decentralization. The surge aligns with global trends, as Japan and Singapore ease crypto taxes.